Number one independent multi-channel YouTube network Fullscreen is reportedly getting $30 million in a new round of funding led by Comcast and The Chernin Group, according to a report by AllThingsD.
The report adds that the latest round of funding would give Fullscreen a pre-money valuation of $110 million and would possibly help Fullscreen expand its operations. Traditional media companies investing huge sums in multi-channel networks like Fullscreen and Maker Studios are a signal that these companies see YouTube and online video as an important part of the future of entertainment.
This is the latest development involving Fullscreen and old media companies. In February, Universal Music Publishing collaborated with Fullscreen and Maker Studios in giving their content creators unlimited use of Universal’s music library. Fullscreen opened the library to their artists Thursday through an updated platform that lets them choose songs and upload their covers to the web.
We reached out to Fullscreen today, but they said they would not comment about the report.
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